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Roth IRA Conversion Calculator to Calculate Retirement Comparisons

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Roth IRA Conversion Calculator Sign
Roth IRA Conversion Calculator

This calculator will calculate and compare the net consequences of leaving an existing traditional IRA as is, versus converting it into a Roth IRA. Results include a side-by-side comparison of the two scenarios before, at, and during retirement, as well as a button for creating a printer friendly report.

Learn More

Selected Data Record:

A Data Record is a set of calculator entries that are stored in your web browser's Local Storage. If a Data Record is currently selected in the "Data" tab, this line will list the name you gave to that data record. If no data record is selected, or you have no entries stored for this calculator, the line will display "None".

DataData recordData recordSelected data record: None
Age now:Current age:Your current age:Your current age:

Your current age:

Enter the age you want to calculator to use as your age on the day of conversion.

Retire age:Age to retire:Age you plan to retire at:Age you plan to retire at:

Age you plan to retire at:

Enter the age you want the calculator to use for the age you will be when you start making withdrawals from your IRA (not before age 59-1/2).

Retire yrs:Retire years:Number of years to receive income:Number of years to receive income:

Number of years to receive income:

Enter the number of years you expect to make withdrawals from your IRA during retirement.

Pre-ROR:Pre-retire ROR:Pre-retirement rate of return:Pre-retirement rate of return on investments:

Pre-retirement rate of return on investments:

Enter the before-tax percentage you expect to earn on your investments between now and when you retire. Enter as a percentage, but without the percent sign (for .06 or 6%, enter 6).

Post-ROR:Post-retire ROR:Post-retirement rate of return:Post-retirement rate of return on investments:

Post-retirement rate of return on investments:

Enter the before-tax percentage you expect to earn on your investments during your retirement years. Enter as a percentage, but without the percent sign (for .06 or 6%, enter 6).

Fed tax:Current fed tax:Current federal income tax bracket:Current federal income tax bracket:

Current federal income tax bracket:

Enter your current tax bracket, typically 10, 15, 25, 28, 33, or 35). Enter as a percentage, but without the percent sign (for .15 or 15%, enter 15).

Retire tax:Retire tax rate:Federal retirement income tax bracket:Federal income tax bracket during retirement:

Federal income tax bracket during retirement:

Enter the tax bracket you expect to be in during retirement, typically 10, 15, 25, 28, 33, or 35). Enter as a percentage, but without the percent sign (for .15 or 15%, enter 15).

IRA balance:Current IRA bal:Current IRA balance:Current IRA balance:

Current IRA balance:

Enter the current balance of the standard IRA you are looking to convert to a Roth IRA. Enter as a dollar amount, but without the dollar sign and any commas.

Non-ded port:Non-deductible port:Non-deductible portion of current bal:Non-deductible portion of current balance (optional):

Non-deductible portion of current IRA balance (optional):

If any portion of your IRA contributions did not reduce your taxable income for the year they were contributed, enter that amount here. Enter as a dollar amount, but without the dollar sign and any commas. Otherwise, if all the contributions to your IRA were deductible, then leave this field blank.

Tax from:Tax paid from:Conversion tax will be paid from:Conversion tax will be paid from:

Conversion tax will be paid from:

When you convert your standard IRA to a Roth IRA, the portion of your IRA that is deductible will be added to your taxable income for the current year. This means you will need to come up with funds to pay taxes on that additional income. If you plan to pay the conversion taxes out of non-IRA assets (savings account, cash, etc.), choose non-IRA assets. If you plan to pay the taxes from your IRA (thereby reducing the value of your IRA) choose IRA proceeds.

At ConversionTraditional
IRA
Roth
IRA
DeductibleDeductibleDeductible portionDeductible portion:

Deductible portion:

This is the portion of the current balance that was deducted from your taxable income when you contributed it to the IRA.

Non-deductibleNon-deductibleNon-deductible portionNon-deductible portion:

Non-deductible portion:

This is the portion of the current balance that was not deducted from your taxable income when you contributed it to the IRA. In other words, you already paid federal taxes on this amount.

Forgone fundsForgone fundsForgone investment fundsForgone investment funds:

Forgone investment funds:

This is the amount used to pay the conversion taxes. This figure is used to calculate the amount of interest earnings you will give up by paying conversion taxes out of your savings rather than leaving that amount in savings to earn interest.

Conversion amtConversion amtConversion amountConversion amount:

Conversion amount:

This is the amount that will be converted to a Roth IRA. If you chose to pay the conversion taxes out of your IRA, then this amount will be reduced by the amount of the conversion taxes.

Conversion tax pdConversion tax pdConversion tax paidConversion tax paid:

Conversion tax paid:

If you chose to pay the conversion taxes out of your IRA, then this is the amount that will be subtracted from your IRA before it is converted to a Roth IRA.

Comparison balComparison balComparison balanceComparison balance:

Comparison balance:

These are the amounts that will be used to compare the net effect of converting from a Standard to a Roth IRA. If the standard portion shows more than the actual balance, that is because we are including the conversion tax savings that will occur if you keep your funds in the standard IRA.

From Now Until Retirement AgeTraditional
IRA
Roth
IRA
Deductible balDeductible balDeductible balanceDeductible balance:

Deductible balance:

This is the estimated future value of the deductible portion of your standard IRA.

Non-deductible balNon-deductible balNon-deductible balanceNon-deductible balance:

Non-deductible balance:

This is the estimated future value of the non-deductible portion of your standard IRA.

Forgone valueForgone valueForgone investment valueForgone investment value:

Forgone investment value:

This is the estimated future value of the investment that would otherwise be used to pay conversion taxes. If the amount is n/a, it means you chose to pay the conversion taxes out of your IRA.

Roth balanceRoth balanceRoth IRA balanceRoth IRA balance:

Roth IRA balance:

This is the estimated future value of your Roth IRA if you were to go ahead with the conversion.

Comparison FVComparison FVComparison future valueComparison future value:

Comparison future value:

This estimated future value of both scenarios for comparison purposes.

Income During RetirementIncome During RetirementDuring RetirementDuring RetirementTraditional
IRA
Roth
IRA
Annual deductibleAnnual deductibleAnnual deductible incomeAnnual deductible income:

Annual deductible income:

This is the estimated annual after-tax income that might be generated by the deductible portion of your traditional IRA during retirement.

Ann non-deductibleAnnual non-deductibleAnnual non-deductible incomeAnnual non-deductible income:

Annual non-deductible income:

This is the estimated annual after-tax income that might be generated by the non-deductible portion of your traditional IRA during retirement.

Annual investmentAnnual investmentAnnual investment incomeAnnual investment income:

Annual investment income:

This is the estimated annual after-tax income that might be generated by the conversion tax savings that would result from not converting your traditional IRA to a Roth IRA.

Annual Roth IRAAnnual Roth IRAAnnual Roth IRA incomeAnnual Roth IRA income:

Annual Roth IRA income:

This is the estimated annual after-tax income that might be generated by your Roth IRA.

Comparison TotalsTraditional
IRA
Roth
IRA
Annual after-tax incAnnual after-tax incTotal annual after-tax incomeTotal annual after-tax income:

Total annual after-tax income:

The left-hand column is the estimated annual after-tax income that might be generated by the combination of the deductible, non-deductible, and conversion tax savings related to keeping your traditional IRA as is.

The right hand column is the estimated annual after-tax income you might earn from your Roth IRA.

Mon after-tax incMonthly after-tax incTotal monthly after-tax incomeTotal monthly after-tax income:

Total monthly after-tax income:

The left-hand column is the estimated monthly after-tax income that might be generated by the combination of the deductible, non-deductible, and conversion tax savings related to keeping your traditional IRA as is.

The right hand column is the estimated monthly after-tax income you might earn from your Roth IRA.

If you would like to save the current entries to the secure database, tap or click on the Data tab, select "New Data Record", give the data record a name, then tap or click the Save button. To save changes to previously saved entries, simply tap the Save button. Please select and "Clear" any data records you no longer need.

Feedback AppreciatedFeedback Greatly AppreciatedYour Feedback Would Be Greatly AppreciatedYour Feedback Is Greatly Appreciated
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About

About the Roth IRA Conversion Calculator

This calculator will help you to compare the net effects of keeping your traditional Individual Retirement Account versus converting it to a Roth IRA.

Not only will the calculator show you the forecasted monthly and annual retirement income for both scenarios, but will also compare the two scenarios before, at, and during your retirement.

And finally, the calculated results also include a button for creating a printer friendly report.

Note that if you're not sure what a Traditional IRA is, or what a Roth IRA is, or what their respective advantages, disadvantages, and purposes are, please visit the Roth Vs Traditional IRA Calculator.

Important: All calculated results are hypothetical, so be sure to consult a qualified tax professional before making any decisions concerning your IRAs.

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Instructions

How to use the Roth IRA Conversion Calculator

Step #1:

Enter your current age.

Step #2:

Enter the age you plan to retire at.

Step #3:

Enter the number of years you expect to make withdrawals from your IRA.

Step #4:

Enter pre and post-retirement annual rates of return you expect to earn on your retirement savings.

Step #5:

Enter your current and post-retirement tax bracket percentages. A look-up table is included in the pop-up help (tap the info icon).

Step #6:

Enter the current balance of your traditional IRA.

Step #7:

Enter the non-deductible portion of your IRA (if any).

Step #8:

Select the source of the funds you will pay the conversion taxes with.

Step #9:

Tap the "Calculate Comparison" button and scroll down to view the results.

Saving Entries:

If your web browser supports Local Storage, you can save your entries to your web browser so won't have to start over on your next visit. Please note that your saved entries can only be retrieved from the same device and web browser you were using when you stored them. If you would like to access your saved entries from any device I invite you to subscribe to the Ad-Free Member Version.

To save your entries to your web browser, click or tap the Data tab in the Help and Tools section (mobile: top right of the main screen), select "New Data Record" from the drop-down menu, enter a name for the data record, and then tap or click the Save button.

To load previously saved entries, click or tap the Data tab and select the saved data record from the drop-down menu. You can then save any changes to your entries by simply clicking the Save button while the data record is selected.

To clear a named set of saved entries, click or tap the Data tab, select the saved data record from the drop-down menu, and then tap or click the Clear button.

Numbers and Decimals:

Only numeric characters (0-9 and decimal points) may be entered in numeric fields. Non-numeric characters (dollar signs, percent signs, commas, etc.) may cause calculation errors. If the field includes a grid icon, tapping the icon will open a popup keypad which will include only the characters allowed in the field. If your device keypad does not include a decimal point, use this popup keypad to enter decimal numbers where applicable.

Popup Tool Tips:

Tap the info (i) icons for a further explanation of each entry field (you can click [X] or outside of the pop-up tool tips to close them). A summary of these explanations, along with any additional term explanations, can also be found under the Terms tab.

Disclaimer:

Since I can't test for every possible combination of numbers, please be sure to double-check the results of this calculator yourself before considering them to be valid. If you do discover an issue with the calculated results, please report the issue using the feedback form located below the calculator.

Scrolling & Shrinking:

In order to scroll the calculator vertically you will need to swipe just outside of the calculator's dark-blue border, or use the window's far right-hand scroll bar, whichever is applicable to your device.

If the top section of the calculator becomes to tall for your viewport, tapping in the "Enter a problem..." field should reset the top section to its original height.

Disclaimer:

The Algebra Calculator is the only calculator on the site that I did not create myself. And since I did not create it, I don't have access to the code for fixing any issues you may be experiencing. So if you are having issues with the calculator, please visit the support page at Mathway.com for assistance.

Glossary

Fields, Terms, and Definitions.

Reset button:

Clicking the "Reset" button will restore the calculator to its default settings.

Pocket Calculator

Calculate any amounts needed to enter into calculator.

 

Data Management

Save and retrieve entries and notes (requires HTML5 compliant web browser).

Calculator Data

Calculator Data:

If you are using the latest version of your web browser software, this feature will allow you to save your calculator entries to your web browser's local storage in between visits. This means the calculator entries can only be recalled with the same device and web browser you were using when you saved them. If you'd like to save data between devices you will need to subscribe to the Ad-Free Member Version.

Save: To save a new set of calculator entries, select "New Data Record" from the dropdown list, enter a nickname for the data record, then click the "Save" button.

Load: To load a previously saved set of calculator entries, simply select the name of the data record from the dropdown list.

Save Changes: To save changes to a set of previously saved calculator entries, be sure the name of the data record is selected, and then click the "Save" button.

Clear: To clear a saved set of entries, be sure the name of the data record is selected, and then click the "Clear" button.

Backup Data
My Notes:
Subscribe to the Cloud level of the Ad-Free Member Version to save your entries and notes to a secure online database, allowing you to access your saved entries from any device or web browser.

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Help and Tools

Help and Tools:

This section, which you can Unstick or Hide in the Calculator Preferences (just above the top of the calculator), contains the following tabs (content too long to fit within bordered frame can be scrolled up and down):

About: Click this tab for an introduction to the calculator.

Instructions: Click this tab for step-by-step instructions for using the calculator.

Terms: Click this tab for a list of the descriptions that are located within each popup help button (info icons).

PCalc: Click this tab for a handy "pocket" calculator you can use when you need to calculate an entry needed for the calculator.

Data: Click this tab to save a set of entries or a note in between visits. Entries and notes will be stored to your web browser's local storage (if supported by your browser of choice), meaning they can only be recalled with the same device and web browser you were using when you saved them. If you'd like to save entries and notes between devices you can do so by subscribing to the Ad-Free Member Version.

 

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